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MLP SE — Investor Presentation 2019
Nov 14, 2019
289_ip_2019-11-14_3d8aa233-0041-46a2-afa9-e754cc071243.pdf
Investor Presentation
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Business figures 9M/Q3 2019
Reinhard Loose, CFO
Wiesloch, November 14, 2019
Highlights 9M/Q3 2019
- Key financial figures 9M/Q3 2019
- Summary and outlook
- Questions and answers
Highlights 9M/Q3 2019
- 9M: Total revenue up 5 percent to new record high (€ 487.3 million)
- Gains recorded in virtually all fields of consulting greatest dynamics recorded in old-age provision with an increase of 9 percent
- At € 19.0 million, earnings before interest and taxes (EBIT) fully in line with planning – following positive one-off effects in Q3 2018, yet below the previous year
- Number of consultants increased to 1,932 already above the value as at December 31, 2018, further gains anticipated by the end of the year
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Outlook confirmed: good closing quarter and slight increase in EBIT still anticipated for the financial year
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Highlights 9M/Q3 2019
- Key financial figures 9M/Q3 2019
- Summary and outlook
- Questions and answers
9M: Total revenue on a new high
Total revenue
9M: Revenue increased in almost all consulting fields
Revenue 9M/Q3
In € million +5.0% Old-age provision 9M: 134.0 (122.6) Q3: 50.1 (46.4) | +8.0% Wealth management 9M: 160.5 (152.8) Q3: 55.8 (55.2) | +1.1% +1.1% Health insurance 9M: 35.5 (35.1) Q3: 11.7 (11.9) | -1.7% +5.8% Non-life insurance 9M: 102.9 (97.3) Q3: 21.2 (20.0) | +6.0% +5.4% Loans and mortgages* 9M: 13.6 (12.9) Q3: 4.6 (4.0) | +15.0% Real estate brokerage 9M: 14.3 (14.6) Q3: 6.1 (4.6) | +32.6% -2.1% Interest income 9M: 12.5 (12.9) Q3: 4.0 (4.0) | 0.0% Other commissions and fees 9M: 2.6 (2.8) Q3: 0.6 (0.8) | -25.0% +9.3% 0.5% (0.6%) 3.0% (3.2%) 2.6% (2.9%) 2.9% (2.9%) Revenue breakdown: 9M: Development of the brokered premium sum in the field of occupational pension provision +23% 28.2% (27.2 %) 33.7% (33.9%) 21.6% (21.6%)
Previous year's values in * Excluding MLP Hyp brackets
9M: Growth in stock values
Assets under management
9M: EBIT at € 19.0 million
Income statement
| In € million |
||||||
|---|---|---|---|---|---|---|
| Q3 2018 | Q3 2019 | 9M 2018 | 9M 2019 | |||
| Total revenue | 151.9 | 158.1 | 462.5 | 487.3 | ||
| EBIT | 10.8 | 6.7 | 22.9 | 19.0 | ||
| Finance cost | -0.1 | -0.1 | -0.5 | -0.7 | ||
| EBT | 10.7 | 6.6 | 22.3 | 18.2 | ||
| Taxes | -3.0 | -0.4 | -4.9 | -2.9 | ||
| Net profit | 7.6 | 6.2 | 17.4 | 15.3 | ||
| EPS in € (diluted/basic) |
0.07 | 0.06 | 0.16 | 0.14 |
Effects on EBIT: 1. Q3 2018: Capitalisation of a VAT receivable, EBIT contribution of € 2.9 million 2. Q3 2019: Lower performance fees in wealth management due to market conditions 3. 9M 2019: Different costs accrued compared to the same period of the previous year
Core capital ratio at 17.7 percent
Balance sheet overview
| Assets | In € million |
Dec 31, 2018 | Sep 30, 2019 | |
|---|---|---|---|---|
| Intangible assets | 155.9 | 186.0 | Equity ratio: 15.4 % | |
| Property, plant and equipment | 78.3 | 134.0 | ||
| Financial investments | 165.3 | 172.4 | Core capital ratio 17.7 % | |
| Receivables from clients in the banking business | 761.0 | 830.2 | ||
| Receivables from banks in the banking business | 694.2 | 710.7 | Total capital at around € 258 million |
|
| Other receivables and assets | 158.1 | 147.6 | ||
| Cash and cash equivalents | 385.9 | 443.5 |
Liabilities and shareholders' equity
| Shareholders' equity | 424.8 | 409.5 |
|---|---|---|
| Provisions | 94.5 | 99.1 |
| Liabilities due to clients in the banking business | 1,638.9 | 1,818.2 |
| Liabilities due to banks in the banking business | 81.6 | 96.3 |
| Other liabilities | 165.8 | 224.3 |
| Balance sheet total | 2,421.0 | 2,662.4 |
Net liquidity of around € 126 million
As of September 30, 2019
Growth in both client and consultant numbers
Expedited process for acquiring new consultants – tangible potential
EBIT contribution from the university segment
- Number of consultants in the university segment increased from around 200 to around 300 since the same quarter of the previous year
- Increase to 500 to 600 consultants anticipated by 2022
- Additional revenue already expected in 2019 backed by increase in new business
- Further additional investments planned in the university segment
- Break-even anticipated in 2021
Integration of DEUTSCHLAND.Immobilien running to schedule
New DEUTSCHLAND.Immobilien Store at the MLP Consulting Centre in Heidelberg
- Showroom with current real estate objects for investments
- also as waiting area for MLP clients
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Regular events for prospective clients and brokers affiliated with DEUTSCHLAND.Immobilien
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Highlights 9M/Q3 2019
- Key financial figures 9M/Q3 2019
- Summary and outlook
- Questions and answers
Forecast for the financial year 2019 confirmed
Qualitative assessment of revenue development Earnings performance
- Sales revenue after nine months increased to new record level positive development of important value stocks
- Further development of the university segment with visible success further increase in consultant numbers anticipated by the end of the year
- Stronger earnings trend than in the same period of the previous year anticipated for the fourth quarter, which remains very important in MLP's business model
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Outlook unchanged: Despite high investments in the future, slight increase over the EBIT recorded in 2018 planned
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Highlights 9M/Q3 2019
- Key financial figures 9M/Q3 2019
- Summary and outlook
- Questions and answers
Contact
MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Germany
Frank Heinemann, Head of External Communications Andreas Herzog, Head of Investor Relations and Financial Communications
Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131
[email protected] www.mlp-se.com